Gold, Silver & Other Precious Metals 16 (Aug 17 - Apr 19)

[winston]

What, me worry? Commodities king Dennis Gartman sees gold 'demonstrably higher', may target $1400

The commodities king explains why he thinks bullion has a lot more room to run.

The monetary authorities are all still remaining expansionary," Gartman told CNBC, and the winner is likely to be gold.

by Stephanie Landsman

His reason to own gold: Central banks and easy money.

The unwinding of the Fed's crisis-era policy "is going to take five or six years.

Source: CNBC

https://www.cnbc.com/2017/09/24/gold-to ... yptr=yahoo

[winston]

Gold’s Pullback Should Surprise No One!

On gold’s 2-year chart we can see that it was at a good point to reverse to the downside early in the month

Given the immediate outlook for the dollar, it would drop back to about $1250, and COTs suggest it could go lower still.

The Commercials still hold a high short position and the Large Specs a high long position.

These positions will probably need to be “wrung out” before gold can resume the upward path, especially as the technical outlook for the dollar is for a significant rally over the short to medium term.

Source: ETF Daily News

http://www.thetradingreport.com/2017/09 ... -surprise/

[winston]

A buying opportunity in gold stocks

by Jeff Clark

There’s a chance traders may get a shot at buying back into the gold sector later this week, or early next week.

Source: Delta Report

http://thecrux.com/top-trader-where-im- ... ld-stocks/

[winston]

4 Strong Reasons to Buy Gold ETFs

by Sanghamitra Saha

1. Higher Demand from ETF = Investment Demand
2. North Korea is Gold’s Friend
3. Rising Inflation
4. Upcoming Festive Season in India

Source: Zacks

https://finance.yahoo.com/news/4-strong ... 05013.html

[winston]

Trader believes gold’s run is done, and here’s how he’s betting against the metal

by Annie Pei

First, Gordon points to the metal's inverse relationship to the U.S. dollar.

Second, the technical chart of GLD itself isn't looking too promising. Gordon points out that GLD has recently fallen back to a "support" level at $122, its previous high from April and June of this year, and could even fall through that level as the dollar rallies.

Source: CNBC

https://www.cnbc.com/2017/09/26/trader- ... yptr=yahoo

[winston]

Is Silver Ready To Stop Falling?

By Guillaume Touzet

After a nice recovery during the summer, silver started to turn south in September with a loss of almost 10% since the daily high on September 8, 2017.

When we say:" is silver ready to stop falling?" of course we are talking about short term moves. Longer term silver direction is still pointing down.

Let see what's the eGOLDfx meter is telling us about what might happen in the next few days.

On September 12, the eGOLDfx sent a warning about a potential short term trend reversal (1). At the same time price close below its uptrend line (A) sending another confirmation that a reversal is about to materialize. Finally, on September 14, price broke the support line (B) confirming a new downtrend.

Since then, silver has been moving downward without much rest on the way down.
Today, the eGOLDfx meter, which sends advance signals about a potential trend reversal is telling us, by reaching the lowest bounce level (<30) (2), that this downward move might come to a stop or at least make a break.

In order to confirm a potential trend reversal we will need to wait for the eGOLDfx silver strength line (Grey) to close below 30 then move back above 30.

If this setup materialize in the next few days then we will have a valid warning about a potential strong retracement and even a new uptrend.

Source: www.investing.com

https://www.investing.com/analysis/is-s ... -200215753

[winston]

How The Fed’s New Policy Will Affect Gold Prices …

Source: TTR

http://www.thetradingreport.com/2017/09 ... ld-prices/

[winston]

Chart of the day: Platinum getting cheap

by Nicole Elliott

The ratio between gold and platinum, in terms of ounces of one relative to the cost in US dollars of the other, is currently 0.71, the lowest it has been in at least 30 years.

Recent price action on the weekly platinum chart, with a doji at the centre of an evening-star chart pattern, suggests an interim high is in place.

Peaking just ahead of the top of a large Ichimoku cloud against Fibonacci retracement resistance and close to where we peaked in March adds weight to this view.

This suggests we shall retest horizontal support at around US$880 per ounce, a level that has held well so far this year where we have traded basically sideways between here and US$1,040.

Source: SCMP

http://www.scmp.com/business/commoditie ... ting-cheap

[winston]

Gold: 1284.80, -3.90.

Broke below the 50 day MA' on the week, did not recover the ground.

Source: Investment House

[winston]

China proven gold reserves at 12,100 tonnes at end-2016 - Xinhua

SHANGHAI, Oct 2 (Reuters) - China’s proven gold reserves reached 12,100 tonnes at the end of 2016, the state news agency Xinhua reported on Monday quoting an official with the national gold association.

China has been the world’s biggest gold producer for 10 years and the largest consumer of the metal for four years, it said.

China aims to increase its annual gold output to 500 tonnes by 2020 from around 450 tonnes currently, it said.

Last year, 70,000 tonnes of gold were traded in China on spot exchanges, futures exchanges and over-the-counter at banks, and that amount was expected to exceed 100,000 tonnes by 2020, Xinhua quoted Zhang Yongtao, vice chairman of the China Gold Association (CGA), as saying.

In the first half of 2017, China produced 207 tonnes of gold, a drop of 9.8 percent from a year ago, although gold consumption rose nearly 10 percent to 545 tonnes, with consumption of gold bars up more than 50 percent, the CGA said.

Source: Reuters